The Brazil international had been linked with a move to Paris Saint-Germain, but the La Liga champion has announced that he will extend his stay at the Camp Nou.
Barcelona has confirmed that Neymar will sign a new deal at the club in the coming days.
The Brazil international had been linked with a move to Paris Saint-Germain and Manchester United this summer but now looks set to put pen to paper on a new contract at the Camp Nou.
Neymar, who moved to Spain from Santos in 2013, is expected to pledge his future to Barcelona for another five years.
"Neymar wants to stay here. In the next few days we will finalize his contract extension," club president Josep Maria Bartomeu said at a press conference.
The 24-year-old's release clause will rise to 230 million euros ($255 million), which is likely to put him out of the reach of even the world's biggest and richest clubs.
Neymar is set to take part in the Olympic Games in Rio de Janeiro in August before returning to Barca for the 2016/17 campaign.
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